Activision Blizzard Stock Drops After Diablo Immortal Reveal

"Blizzard severely miscalculated how their fans would respond," said Cowen and Company to investors.

Posted By | On 06th, Nov. 2018

Diablo Immortal_03

Blizzard Entertainment’s Diablo didn’t have the hottest weekend. Diablo Immortal for mobile phones was revealed at BlizzCon 2018 and met with a strong amount of backlash. While Blizzard did expect some amount of this, it probably didn’t envision shares for Activision Blizzard dropping when the New York Stock Exchange opened yesterday.

According to The Wall Street Journal’s Sarah Needleman on Twitter, stock value dropped by roughly 7 percent and closed at $64.34 (current value is at $64.52). Previously, stock value was at $68.99. Research firm Cowen and Company told investors in a recent note (via GameSpot), “Blizzard severely miscalculated how their fans would respond, which suggests they aren’t in touch with their players as maybe they should be.”

The firm also posited that making money with Diablo Immortal could be difficult, simply because the Western market functions differently in regards to additional payments. Of course, we don’t yet know if the mobile title will be free to play or premium. Blizzard has yet to confirm how the monetization model will work, especially with free updates and the like promised.

Cowen and Company further stated that a tease for the next big Diablo sequel might have helped Blizzard avoid all these headaches. Recent reports (which were later rectified) by Kotaku’s Jason Schreier indicate that a video with Blizzard co-founder Allen Adham discussing the next Diablo was recorded. Whether this was meant to be showcased at BlizzCon 2018 or not, Blizzard insists that it didn’t pull any announcements from the show.


Amazing Articles You Might Want To Check Out!



Share Your Thoughts Below  (Always follow our comments policy!)



Keep On Reading!

Deathloop’s Creative Director Breaks Down Game’s Design Philosophy

Deathloop’s Creative Director Breaks Down Game’s Design Philosophy

Dinga Bakaba talks about various aspects of the acclaimed title from Arkane in this detailed interview.

Chorus Developer Teases Announcement For Tomorrow

Chorus Developer Teases Announcement For Tomorrow

After almost a full year of no news, it seems we will finally get some type of announcement regarding the spac...

Century: Age of Ashes Has Been Delayed to Steer Clear of Battlefield 2042

Century: Age of Ashes Has Been Delayed to Steer Clear of Battlefield 2042

Battlefield 2042's new launch date is a bit too close for comfort to Century: Age of Ashes' planned release da...

Titanfall 3 isn’t Going to Happen Anytime Soon, Respawn Says

Titanfall 3 isn’t Going to Happen Anytime Soon, Respawn Says

"We’ve got too many other games in the works right now," says Respawn Entertainment's community coordinator ...

Alan Wake Remastered Could be Tweaked to Connect to Other Remedy Titles

Alan Wake Remastered Could be Tweaked to Connect to Other Remedy Titles

Remedy Entertainment says the upcoming remaster's content will remain largely unchanged, but hints that there ...

Steam Has More Outages Than Xbox Live and PlayStation Network – Report

Steam Has More Outages Than Xbox Live and PlayStation Network – Report

A report by Tooltester reveals that Steam experiences more outages than PlayStation and Xbox Live on average.